Chord Energy’s (CHRD) Neutral Rating Reiterated at Bank of America

Chord Energy (NASDAQ:CHRD)‘s stock had its “neutral” rating restated by analysts at Bank of America in a report issued on Monday, MarketBeat Ratings reports. They currently have a $138.00 target price on the stock, down from their previous target price of $208.00. Bank of America‘s target price suggests a potential upside of 11.49% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their price objective on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Truist Financial dropped their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.15.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $123.78 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a fifty day moving average of $122.59 and a two-hundred day moving average of $139.13. The stock has a market capitalization of $7.57 billion, a PE ratio of 6.37, a P/E/G ratio of 4.79 and a beta of 0.99. Chord Energy has a fifty-two week low of $109.59 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $5.04 EPS. Chord Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, research analysts forecast that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after acquiring an additional 34,156 shares in the last quarter. Bank of Montreal Can raised its holdings in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after acquiring an additional 52,835 shares in the last quarter. Foundry Partners LLC raised its holdings in Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after acquiring an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Chord Energy in the second quarter valued at approximately $2,515,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.